Tocqueville Asset Management L.P. lowered its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 11,634 shares of the company’s stock after selling 608 shares during the period. Tocqueville Asset Management L.P.’s holdings in The Priceline Group were worth $14,524,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in PCLN. Orbis Allan Gray Ltd bought a new position in The Priceline Group during the first quarter valued at $251,864,000. Renaissance Technologies LLC acquired a new position in shares of The Priceline Group during the first quarter worth approximately $99,120,000. 1832 Asset Management L.P. acquired a new position in shares of The Priceline Group during the first quarter worth approximately $119,962,000. Swedbank boosted its position in shares of The Priceline Group by 33.5% in the second quarter. Swedbank now owns 220,310 shares of the company’s stock worth $275,037,000 after buying an additional 55,253 shares during the last quarter. Finally, Scharf Investments LLC boosted its position in shares of The Priceline Group by 45.9% in the first quarter. Scharf Investments LLC now owns 164,242 shares of the company’s stock worth $47,459,000 after buying an additional 51,634 shares during the last quarter. Hedge funds and other institutional investors own 93.99% of the company’s stock.
The Priceline Group Inc. (NASDAQ:PCLN) traded down 0.24% during midday trading on Friday, reaching $1439.05. The company had a trading volume of 248,313 shares. The Priceline Group Inc. has a 1-year low of $954.02 and a 1-year high of $1,501.79. The company has a market capitalization of $71.13 billion, a P/E ratio of 27.37 and a beta of 1.62. The firm has a 50-day moving average of $1,449.62 and a 200 day moving average of $1,352.80.
The Priceline Group (NASDAQ:PCLN) last posted its quarterly earnings data on Thursday, August 4th. The company reported $13.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $12.69 by $1.24. The Priceline Group had a return on equity of 32.93% and a net margin of 27.08%. The company earned $2.55 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the previous year, the business earned $12.45 EPS. The Priceline Group’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts forecast that The Priceline Group Inc. will post $68.57 EPS for the current year.
A number of brokerages have commented on PCLN. Royal Bank Of Canada increased their price target on shares of The Priceline Group from $1,600.00 to $1,750.00 and gave the company an “outperform” rating in a research report on Friday, October 7th. RBC Capital Markets reiterated a “buy” rating and set a $1,750.00 price target (up from $1,600.00) on shares of The Priceline Group in a research report on Friday, October 7th. Zacks Investment Research cut shares of The Priceline Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Vetr cut shares of The Priceline Group from a “strong-buy” rating to a “buy” rating and set a $1,598.32 price target on the stock. in a research report on Thursday, September 29th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $1,560.00 price target (up from $1,453.49) on shares of The Priceline Group in a research report on Thursday, September 29th. Six research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $1,538.19.
In related news, insider Glenn D. Fogel sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $1,434.75, for a total transaction of $1,434,750.00. Following the completion of the transaction, the insider now owns 25,131 shares in the company, valued at approximately $36,056,702.25. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffery H. Boyd sold 2,814 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $1,467.98, for a total value of $4,130,895.72. Following the transaction, the chief executive officer now owns 88,939 shares of the company’s stock, valued at approximately $130,560,673.22. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.
About The Priceline Group
The Priceline Group Inc is a provider of travel and restaurant reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.
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